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Big Springs for sale

There is a ‘for sale' sign hanging outside ASX-listed Anova Resources’ (AWV) Big Springs gold project in Nevada, with Haywood Securities in charge of finding a buyer among the “number of potential parties … identified” by the Canadian broker.
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Anova Resources is exiting Nevada to focus on Western Australia

Staff reporter

Anova says it is working to divest the project before the end of the year to allow it to focus on its Second Fortune gold project in Western Australia and other Australian opportunities.

A 2017 independent report on Big Springs by Dunbar Resource Management (DRM) valued it between A$51.2-75.8 million (US$37-56 million) with a preferred value of A$63.1 million. Since taking on the project in 2013 the company has developed a maiden resource and gained approvals to begin operation.

"The divestment process … will explore multiple opportunities for Anova to divest its 100% interest in the Big Springs gold project and unlock value for Anova's shareholders," the company said.

"A number of potential parties have already been identified by Haywood Securities who will be targeted during the divestment process."